I lost money today but i feel like I won bigly because I sold all my BB at $19.40 when I woke up and moved it in to CLVS at like $9. So i lost 10% on the CLVS but i avoided a larger loss on BB. STONKS!
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I thought that was its chart.
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GG robinhood, spark a congressional hearing on your shenanigans ahead of your IPO!
(In before there was no time for a hearing)
“… uh, this just proves we’re a disruptive technology!”
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lol that dude is nuts. But yeah these people on WSB give no fucks and are there to gamble so I do think GME will make a bit of a comeback.
I hope this dude doesn’t hold when it eventually goes back to like $10/share
Um yeah, that happens all the time. It just depends how much they have in their account and what the margin requirement is for that particular security. I’m sure RH kept upping the margin requirement, combined with the stock tanking, triggered it.
The idea that they would go in and make actions in people’s accounts for no reason is beyond the pale. They’ve done plenty of fucked up shit in this mess no need to exaggerate.
I haven’t seen it but I have been told they are pretty misleading on their user interface, showing only buying power, not how much is cash and how much is margin. Combine that with a bunch of rookies and this insane situation and forced liquidations are inevitable.
Got an email from RH saying they’ll allow limited buys tomorrow but will change as needed.
Not rigged at all.
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Isn’t margin a credit account? Robinhood extends people millions of dollars in credit?
Gme gonna be back to 400 by the time it opens tomorrow
WSB has ~doubled in subs in 24 hours
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koss up $13 after close
all the main shorts at least are up after hours pretty solidly
but that is what half the morning price still
I thought my funds were in my Roth IRA that I auto deposit to but that’s on TDAmerica and I had $150 on Fidelity that has been sitting there for a couple years. LOL me.
That’s I found, and I turned that $400 in $420! STONKS!
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All or almost all brokerages do. It usually requires signing like 1 piece of paper to get a margin account. You put $100,000 in and you can probably buy $200,000 worth of stock depending on the brokerage and the stock. Very volatile stocks they often raise the margin requirements, so you require more equity than margin. Schwab currently has gme margin requirement at 300% which I don’t fully understand the purpose of. They are saying I need $300,000 in my account to buy $100,000 of stock. They are trying to discourage buying the stock without outright banning it I think.
So say someone bought $100,000 of gme at $300 and the margin requirement was 80%. They needed $80,000 to do so. Now they made the margin requirement 200%, they have to come up with another $100,000 or sell some stock. It gets even worse quickly when the stock price drops and their stock equity vanishes. All of a sudden they have to come up with big amount of cash or be forced liquidated.
So what are we buying tonight?
Remember that kid from a few months ago who committed suicide when he saw his RH balance was deep in the red?
It turned out he was simply seeing that his account was debited for a large purchase he had made, whereas he hadn’t yet been credited with whatever he bought.